I wasn't going to buy a zillion shares....but what I would have bought, I could have made at least $250 on...while selling at 047...not at 048...(sigh) All in about 4 minutes!
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CYOP Systems International Inc., a leading provider of online gaming software, announced that it has reached an agreement whereby Foreground Image Inc. will be localizing the Company's TenSeatPoker.com cash play site into Traditional and Simplified Chinese.
The TenSeatPoker.com site will be translated, leveraging our tournament sponsorship and advertising model with the design to convert players from third-party portals in Asia to a cash play gaming site.
The Company is continuing to seek out new partners in Asia who have large vertical portals and who are looking to add content and functionality to their web properties.
IGaming will rake in nearly $10 billion in revenue this year, up 40% from 2004. In 1996, when IGaming was in its early years, the industry collected $30 million, says researcher Christiansen Capital Advisors.
Mitch White, CEO of CYOP, commented, "Even with its minimal penetration rate, China already ranks second in the world in total Internet users. According to eMarketer, during the 2004-2008 period, the US Internet population will grow at a 2.6% annual rate. In contrast, China's Internet population will grow during the 2004-2008 period by over 14.3% on an annual basis. Throngs of Chinese citizens are being introduced to the Internet daily." Foreground Image Inc. is a high technology, design and post-production faculty headquartered in Toronto, Ontario, Canada. Their translation service utilizes only native speakers to ensure quality and precision translations for target specific audiences. With many countries and jurisdictions, a deep understanding of the national and regional culture, as well as the language, is needed for translation to be successful.
About CYOP CYOP is a developer and provider of online skill-games, poker and services for the online gaming industry. CrediPlay, CYOP's licensed application, is an online transaction platform that is based on charging a fee for each game played over the Internet. CYOP's central games portal, www.skillarcade.com, features virtual games where people play popular skill games against other players and compete in tournaments to win real money prizes. CYOP's Poker Software may be viewed at www.redfelt.com.
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
By Paul Waide BEIJING (MarketWatch) - Interest in U.S.-listed China stocks could rekindle this week following news that U.S. private equity giants Texas Pacific Group, General Atlantic and Newbridge Capital will take a combined $350 million stake in Chinese computer company Lenovo.
Lenovo (HK:992: news, chart, profile) made headlines late last year when it said it would buy IBM's (IBM: news, chart, profile) personal computer business for $1.75 billion, a deal that was approved by the U.S. government last month.
Meanwhile, any jitters investors might have had about the condition of China's online gaming environment appear to be at least temporarily allayed, with leading homegrown game giant NetEase expecting to release first quarter results on April 26.
Shares of NetEase (NTES: news, chart, profile) were up more than 4.25% going into the final U.S. trading session of the week Friday, adding to gains for the portal of 4.4% the previous week. Investors appear to have woken up to the fact that NetEase's Fantasy Westward Journey game has added one hundred thousand concurrent users over the past month.
As for locally developed games, Kingsoft, best known in China for its word processing and translation software, is said to have selected Morgan Stanley as underwriter for a third quarter Nasdaq IPO. Kingsoft's online games, including the hit JX Online, have sparked investor interest in what was once a stodgy word processing software developer.
Kingsoft CEO Lei Jun is also no stranger to liquidity events. Lei was chairman at Joyo, the business-to-consumer portal Amazon (AMZN: news, chart, profile) acquired in 2004 for $75 million.
And shares of The9 (NCTY: news, chart, profile) and Shanda (SNDA: news, chart, profile) , China's two Nasdaq-listed, pure- play online game operators, could see some action this week ahead of the China release of Blizzard's hit game World of Warcraft. The9 was set to throw a party on Saturday to announce the date it plans to launch the game in "open beta," which to regular people means the launch before commercial launch.
Tencent sends a message; Sina.com in limbo
One Hong Kong stock that continues to stir investor interest is Tencent (HK:700: news, chart, profile) , whose QQ product is China's answer to MSN and Yahoo messengers. But Tencent CEO Pony Ma recently told press that the company has no plans for a Nasdaq listing...for now.
Tencent's plan to hold a shareholder meeting this month for a vote to authorize the repurchase of up to 10% of the company's shares sparked speculation that the company might be preparing a run at the Nasdaq. Tencent shares were slightly lower going into the final trading session last week, but volumes on the stock continue to raise eyebrows on the notoriously illiquid Hong Kong bourse.
Meanwhile, China's No. 1 portal Sina.com (SINA: news, chart, profile) seems to be in limbo. The stock has been on a downturn ever since a poison pill was instituted after Shanda and its affiliates took a 19.5% stake in the company back in February. News of Sina's poker tournament promotion deal with online video event broadcaster CYOP Systems International (CYOS: news, chart, profile) and the fact that Sina's mail has been removed from spam watchdog Spamhaus's blocklists hasn't swayed sellers. Sina was down over 9% for the week at $29.95 going into the Friday session.
Baidu might be the search engine leader in China for now, but Zhongsou, the search subsidiary of Hong Kong listed HC International (HK:8292: news, chart, profile) , is causing a stir. HC International was the subject of speculation last week that Legend Capital (Lenovo's venture arm) and IDG were investing $6 million, and that Fidelity might be added to the investor roster, with the ante upped to $16 million.
And finally, watch out for announcements from "bulge bracket" securities firms this week about analyst replacements after the post-bonus shuffle - China analysts are being offered CFO type roles at pre-IPO companies, making the analyst life a lot less attractive.
Paul Waide is an editor at Pacific Epoch (http://www.pacificepoch.com), the leading source of English language information on China's emerging media, entertainment, and technology industries. Paul does not hold positions in any of the companies covered in this report. Email Paul at paul.waide@pacificepoch.com
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Who knows they way CYOS is behaving it can run back to mid 6's again. This one is going to be a player until the 20th, it's going to be like a yo-yo. The point is where to get in again.
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Yepp. I believe that we will too. We'll probably close around .052 on Monday, then fasten down the hatches and get ready to blastoff on Tuesday.
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Great day
